Dole Food Company, Inc. (NYSE: DOLE) today announced that it has moved
much closer to completing the sale of its worldwide packaged foods and
Asia fresh businesses to ITOCHU Corporation for $1.

Dole also announced planned leadership changes in connection with the sale transaction. Mr. Murdock will return to the role of Chairman and Chief Executive Officer, and C. Michael Carter will assume the added role of President and Chief Operating Officer with all operating and corporate functions reporting to him. Mr. Carter will also be rejoining Dole’s board. In addition, Keith C. Mitchell, current chief financial officer of Dole’s North American Fresh Fruit business, will become Chief Financial Officer; A. Charlene Mims, currently responsible for benefits and payroll, will lead Human Resources; and both Beth Potillo, current Treasurer, and Yoon J. Hugh, current Controller and Chief Accounting Officer, will become Senior Vice Presidents with added responsibilities.

“These are important leadership changes as we work toward right-sizing Dole and refocusing our businesses for growth,” said Mr. Murdock. “Michael Carter is a talented leader with a results-oriented operational focus, who as Dole’s Executive Vice President and General Counsel has worked with me in leading Dole through our most significant strategic events and challenges, since joining Dole in October 2000. Michael brings years of experience in a number of industries, with a varied history of operational and legal roles. I am confident in his ability to right-size Dole and deliver synergies within our remaining businesses.”

As part of the transition, David A. DeLorenzo, current President and Chief Executive Officer, will be joining ITOCHU to lead the newly acquired Asia fresh and worldwide packaged foods businesses, and will be leaving Dole’s board. Joseph S. Tesoriero, current Executive Vice President and Chief Financial Officer, and Sue Hagen, current Senior Vice President Human Resources, will be leaving Dole in connection with the sale transaction. “David DeLorenzo will be missed, and I have nothing but appreciation and admiration for this long-term Dole executive and close personal friend,” said Mr. Murdock. “Joseph Tesoriero has provided leadership at Dole during key milestone events in his ten years with us, and I am personally grateful for his many contributions. Sue Hagen’s professionalism and skill as a human resources executive has served us well during her 26 years at Dole, and I appreciate her continued focus on Dole’s most valued assets, its employees.”